Home State Bk. of Manhattan v. Swartz

This suit was brought by the plaintiff bank to recover judgment against the defendant, one of its stockholders, for a balance alleged to be due upon an assessment alleged to have been levied against him and after his stock had been sold to satisfy the assessment. The proceeding is sought to be grounded upon section 6109d, Chapter 90, of the 1923 Session Laws. The case turns upon, whether the assessment was binding upon defendant.

The defendant became the owner of ten shares of the capital stock of the plaintiff bank upon June 5, 1915, and remained a stockholder of record until the stock was…